Eden Project raises Â£1m in five hours
The Eden Project raised £1m in just five hours via crowdfunding platform Crowdcube after issuing a mini bond to fund the first phase of construction for a new £3m learning village.
It will now accept investment up to its £1.5m limit to finance the project of acquiring and restoring two farmhouses and outbuildings on the edge of its site in a former clay quarry near St Austell.
It plans to renovate the properties into a new venue for teaching horticulture, cookery and food production. The learning village will also include a market garden.
David Harland, executive director of Eden, said: ""This is an amazing result. To reach our £1m target so soon is spectacular and shows that very many people share our vision to establish a world-class learning centre here at Eden.
"When complete, the learning village will give young people the chance to study and work in very special surroundings within the Eden Project."
Luke Lang, co-founder of Crowdcube, added: "It’s brilliant that the Eden Project has become the latest high-profile organisation to use Crowdcube to raise finance.
"Mini-bonds have emerged as a cost-effective and efficient way for well-established brands to raise growth capital and engage with their customers.
"Eden is synonymous with innovation and community, which makes it a great fit for crowdfunding."
Investors can pledge a minimum of £500, with a four-year annual return of 6 per cent.